For the payroll period ended on May 7, 2019, gross pay was $102,000, net pay was $78,000, and various withholdings totaled $24,000. The journal entry to show the effects of the payroll accrual on May 7, 2019 is:
Homework Answers
Journal entry
| Date | account and explanation | Debit | Credit |
| Wages expense | 102000 | ||
| Withholding liabilities | 24000 | ||
| Wages payable | 78000 |
So answer is d)
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